LMLCX Fees and Costs — Western Asset SMASh Series C Fund, SMASh Series C Fund
Data updated: 2026-07-22
The net expense ratio is 0.00% (0.06% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $49K in broker commissions, 0.0132% of average net assets, and portfolio turnover was 4%.
LMLCX Fees and Expenses
Annual operating expenses and sales charges of LMLCX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.06% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.00% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
LMLCX Costs Over Time
On $10,000 invested in LMLCX, assuming 5% a year before costs, total costs come to $8 over 5 years, cutting the return by 0.01% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.00%) | $0 | $0 | $0 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $0 | $1 |
| Total costs | $1 | $5 | $8 |
| Value after costs | $10,499 | $11,572 | $12,754 |
| Impact on return, per year | 0.01% | 0.01% | 0.01% |
LMLCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0132%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
LMLCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $7K | 15.27% |
| GOLDMAN SACHS & CO. LLC | $7K | 14.47% |
| CitiGroup Global Markets Inc. | $6K | 14.45% |
| BOFA SECURITIES, INC. | $5K | 11.95% |
| J.P. MORGAN SECURITIES LLC | $5K | 10.90% |
| RBC CAPITAL MARKETS, LLC | $4K | 9.95% |
| JEFFERIES LLC | $4K | 8.27% |
| WELLS FARGO SECURITIES, LLC | $3K | 5.63% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $2K | 5.25% |
| DEUTSCHE BANK SECURITIES INC. | $2K | 3.87% |
LMLCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $917.2M | 89.10% |
| BOFA SECURITIES, INC. | $34.8M | 3.38% |
| MORGAN STANLEY & CO. LLC | $27.9M | 2.71% |
| J.P. Morgan Securities LLC | $16.7M | 1.62% |
| MIZUHO SECURITIES USA, INC. | $9.8M | 0.95% |
| BMO CAPITAL MARKETS CORP. | $5.4M | 0.53% |
| BNP PARIBAS SECURITIES CORP. | $4.9M | 0.47% |
| CitiGroup Global Markets Inc. | $4.4M | 0.43% |
| SCOTIA CAPITAL (USA), INC. | $4.3M | 0.42% |
| UBS SECURITIES LLC | $3.9M | 0.38% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.